Apple acquires magazine subscription app Texture

Lula West |Monday, March 12, 2018

Texture
Texture

The app is now run by Next Issue Media LLC, owned by a group of publishers and other companies including Hearst Corp. The Cupertino, California, company aims to top $50 billion in annual services revenue by 2021, and a magazine subscription service would likely contribute to that.

"We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users", said Eddy Cue, Apple's senior vice president of Internet Software & Services, in a statement ahead of his SXSW session with CNN's Dylan Byers.

The bridge between tech companies and journalism continues to narrow with Apple's latest purchase. Apple's long term plans for the service are not yet known.

Neither Apple nor Texture is disclosing the exact amount of the deal, or what Apple plans to do with Next Issue Media's talent.

As a private company, Next Issue Media LLC has never revealed its subscriber numbers, but in 2016 CEO John Loughlin said it had in excess of 200,000 paying customers. Cue should know, the exec is in his 30th year with Apple and helped create the iTunes and App Stores. "We don't try to sell the most smartphones in the world; we don't try to sell the most apps, we try to make the best one".

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